Maryland Lottery and Gaming rakes in $1.5bn for FY2023

August 15, 2023
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A portion of its revenue went to support educational programs statewide.

Maryland Lottery and Gaming recently reported that it has contributed more than $1.5bn to the state during 2023’s fiscal year. Its generated revenue comes from Maryland’s six casinos, as well as from fantasy sports and statewide sports betting.

According to a local report from WJZ News, revenue generated by Maryland Lottery and Gaming goes to support state services that include schools, public safety and public health.

During the fiscal year, which began in July 2022, the lottery brought in $2.7bn in sales, which resulted in $714m in revenue for the state. Results from this year reflected a 3.8% increase when compared to the previous fiscal year, according to the report.

The six casinos throughout the state brought in $848.1m in earnings from its $2bn in total sales. Casino revenue goes to aid small minority-owned businesses and the Education Trust Fund, according to the local report.

Maryland’s education programs were also supported by both sports wagering and fantasy sports contributions. During the fiscal year, fantasy sports and sports betting paid $25.3m to the Blueprint for Maryland's Future Fund, local news said.

Maryland Lottery and Gaming Director John Martin outlined the history of the state’s lottery and commented on its milestone anniversary.

He told WJZ local news, "The Maryland Lottery launched in 1973 with the mission to generate revenue for the state's good causes.

"As we've been celebrating our 50th anniversary this year, we've also been navigating a gaming landscape that is continually evolving, most recently with the addition of sports wagering. But as we adapt to new responsibilities, we're always mindful of that core mission, and we're proud to do our part."


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